Brief: Leoni Completes Sale Of Significant Parts Of Industrial Business To BizLink

BizLink Holding

21/01/2022 10:15

Jan 21 (Reuters) - LEONI AG  LEOGn.DE :
    * SALE OF SIGNIFICANT PARTS OF THE INDUSTRIAL BUSINESS TO
BIZLINK
COMPLETED
    * CASH INFLOW OF MORE THAN EUR 300 MILLION AFTER DEDUCTIONS
OF,
AMONG OTHER THINGS, FINANCIAL LIABILITIES AND PENSION CHARGES
RESULTING FROM CLOSING WILL BE USED TO IMPROVE LIQUIDITY
    * SOLD ACTIVITIES GENERATED SALES OF APPROXIMATELY € 430
MILLION
IN FISCAL YEAR 2020 AND ARE VALUED WITH AN ENTERPRISE VALUE OF
AROUND € 450 MILLION
    * CLOSING CONDITIONS FOR SALE OF BUSINESS GROUP INDUSTRIAL
SOLUTIONS FULLY MET
    * SALE INCLUDES AROUND 20 INTERNATIONAL LOCATIONS OF THE
LEONI
INDUSTRIAL SOLUTIONS BUSINESS IN TEN COUNTRIES WITH AROUND 3,000
EMPLOYEES

Further company coverage:  LEOGn.DE 

 (Gdansk Newsroom)
 ((Gdansk.Newsroom@thomsonreuters.com;))